Housing Market Swings In Miami

Housing prices have begun to fall as condo supply continues to grow in Miami.
April 27, 2006, 10am PDT | Mike Lydon
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"March was a great month for single-family-home sellers in South Florida. But it was a different story for those trying to sell condominiums in Miami-Dade County.

A mid-priced single-family home in Miami-Dade County went for $383,100, according to figures released Tuesday by the Florida Association of Realtors. That's up almost 4 percent from February and 19 percent from the same time last year.

In Broward, a mid-priced home in March came in at $368,100, also a slight jump from February and an 11 percent rise from last year.

But the going was tougher for those trying to sell condos, which have sprouted all over South Florida like so many concrete shoots in the sun. A mid-priced Miami-Dade condo went for $249,200 -- down 4 percent from last year."

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Published on Wednesday, April 26, 2006 in The Miami Herald
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